Electronic trading of assets is becoming the rule, as opposed to the exception that it was a few short years ago. Many businesses offer one or more client applications for trading purposes. One such client is the JPeX client.
The JPeX client is a web-based, Java applet developed and offered by JPMorganChase to internal and external clients as part of the JP Morgan eXpress™ platform. JP Morgan eXpress™ is JP Morgan's premier electronic trading platform that effects trading across multiple asset classes and across multiple time zones. The platform provides a single point of access to JP Morgan's liquidity in major markets. Key functionality of the web client includes:                Continuous streaming prices on all instruments;        Configurable workspace including market watch and order screens;        Downloadable and exportable real time cross asset class trade blotters;        Dynamic Data Exchange (DDE) link to spreadsheets (i.e., Excel) with real-time prices on all instruments and automated trading functions;        Configurable trading default settings and user preferences; and        Straight through processing to settlement eliminating any manual intervention.        
For securities trading, major functionality includes:                Service available throughout both the London and New York trading day;        Enhanced search function makes it easy to find instruments to monitor or trade;        Click-and-trade functionality with auto-acceptance to ensure execution times of less than two seconds;        Request for Quote functionality that allows the client to ask for different terms (e.g., larger sizes than those quoted on screen, irregular settlement location or irregular settlement date);        The option to leave subject orders at a particular level that is then subject to trader acceptance;        Automated hedge functionality when executing credit trades;        Multiple account trading—trades can be allocated to sub-accounts at trade inception;        Daily closing prices now available; and        Advanced “heat map” research tools with integrated click and trade functionality.        
For foreign exchange trading, key functionality includes:                Streaming Rates provided for Spot and Swaps;        Ability for user to select pre-defined currency pair and to request a quote directly from a trader;        Trading offered during the London and New York day;        Ability to trade Spot, Matched and Mismatched Swaps with standard tenors, Forward outrights, Forward Forwards, Pre-spot outrights, Broken dated swaps, Pre-spot swap; and        Ability for a user to define any currency pair and submit for request for quote.        
The JPeX system is described in the following patents and patent applications: U.S. patent application Ser. No. 10/026,403, entitled “System and Method for Single Session Sign On,” by Lawrence Miller and Martin Trenholm, filed Dec. 21, 2001; U.S. patent application Ser. No. 10/078,687, entitled “System and Method for Single Session Sign-On Management Without Central Server,” by Lawrence Miller and Bruce J. Skingle, filed Feb. 15, 2002; U.S. patent application Ser. No. 10/064,118, entitled “Method and System of Delayed Cookie Transmission In a Client Server Architecture,” by Mike Moore, Lawrence Miller and William Deans, filed Jun. 12, 2002; U.S. patent application Ser. No. 10/064,221, entitled “Method and System for Determining Receipt of a Delayed Cookie In a Client Server Architecture,” by Mike Moore, Lawrence Miller, William Deans and Roman Sulzhyk, filed Jun. 21, 2002; U.S. patent application Ser. No. 10/256,598, entitled “A System and Method for Online Trading Using an Electronic Spreadsheet,” by Brian Lynn and Lawrence Miller, filed Sep. 25, 2002; U.S. patent application Ser. No. 10/065,337, entitled “Data Element Change Across Multiple Instances of Data Base Cache,” by David Chapman, Mike Moore, Lawrence Miller, Zhengrong Chiu, Andy Perterson and Hansen Wang, filed Oct. 4, 2002; and U.S. patent application Ser. No. 10/412/886, entitled “Network Based System For Initiating Or Executing Financial Transactions,” by Lee McGinty, Lawrence Miller, Silvio Oliviero, Brian M Pasierb, Paulo Rodela and Tamara Sablic, filed Apr. 14, 2003; all of which are assigned to the assignee of this patent application and all of which are incorporated by reference in their entirety.
Thus, the JPeX client applet offers a rich set of business logic rules for order submission embedded in its code and its GUI's. Increasingly, efforts are underway to integrate other applications, external to JPeX, with this functionality. To date, the JPeX client has been integrated with a Dynamic Data Exchange (known in the art as “DDE”) server, a JavaScript/HTTP API for opening market watch windows and credit map windows. The JPeX client has also been integrated with a prototype of click-to-trade API, based on JavaScript and HTTP.
All integration efforts to date have proceeded independently of one another. The choice of technologies and solutions has left an increasingly chaotic jumble of specialized code in the JPeX client.